Classified Balance Sheet Suppose the following items are taken from the 2015 bal
ID: 2728459 • Letter: C
Question
Classified Balance Sheet
Suppose the following items are taken from the 2015 balance sheet of Dover, Inc.
Goodwill $3,927, Common stock 6,283, Equipment 1,737, Accounts payable 152, Patents 234, Stock investments (long-term) 3,247, Accounts receivable 1,061, Prepaid rent 233, Debt investments (short-term) 1,160, Retained earnings 6,108, Cash 2,292, Notes payable (long-term) 734, Unearned sales revenue 413, Accumulated depreciation—equipment 201,
Prepare a classified balance sheet for Dover, Inc. as of December 31, 2015.
Explanation / Answer
Answer:
Dover, Inc. Balance Sheet December 31,2015 Assets Current Assets Cash 2292 Accounts receivable 1061 Prepaid rent 233 Debt investment 1160 Total current assets 4746 Stock investment 3247 Equipment 1737 Less: Accumulated dep 201 Equipment net 1536 Goodwill 3927 Patents 234 Total Assets 13690 Liabilities and stockholder's equity Current liabilities: Accounts payable 152 Unearned sales revenue 413 Total current liabilities 565 Long term liabilities: Notes payable 734 Stockholder equity Common stock 6283 Retained earnings 6108 12391 Total liabilities and stockholder equity 13690